Credit Card: Have you just bought a new credit card? Don't do these 10 things even by mistake; you will be troubled by debt for the rest of your life..

Credit Card Tips: Have you also taken a new credit card and are you tempted by cashback and reward points? In such a situation, you need to be careful from now on. One mistake can trap you in lifelong debt. Let us know what 10 mistakes you should not make with a credit card.

Missing the payment date
Missing the payment date can prove to be very costly for every user using a credit card. Missing the payment date can make you pay a lot of interest. To avoid this, you can set up auto-pay.

Pay only the minimum due.
If you also pay only the minimum dues, then with time, the burden of debt increases on you. Along with this, you also have to pay more interest.

Overspending in the greed of reward
Avoid spending too much on a credit card in the pursuit of cashback or reward points. By doing this, you will spoil your budget.

Do not ignore hidden charges.
Do not ignore your monthly credit card statement. By looking at it, you can avoid getting trapped in the hidden charges of a credit card.

Using multiple cards
The mistake of keeping multiple credit cards in the pursuit of more cashback or rewards can cost you heavily. It becomes difficult to manage the dues of all when you have multiple credit cards. Keeping fewer cards will be better for your convenience.

Withdrawing cash from a credit card
Withdrawing money from an ATM using a credit card is very expensive because there is no grace period, and interest starts accruing immediately.

All expenses from a single card
If you make all kinds of expenses on a single card, then your limit can get filled quickly, and the risk can increase. It would be better if you divide the transactions into different cards.

Not redeeming reward points.
Reward points on credit cards often have an expiry date. Many people forget to use them and lose the benefits.

Spending the entire credit limit
Spending close to the credit card limit increases your credit utilisation ratio, which hurts your credit score.

Do not share credit information anywhere.
In this era of cyber fraud, sharing credit card information on any unknown website or suspicious link can empty your account.

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